Silvia, 37, has dedicated her life to watching over her family's well-being because her husband died several years ago. Her two children, ages 15 and 9, are her greatest gifts. With the goal of supporting her household and improving their financial situation, Silvia earns a living selling products via catalogue, a job that allows her to earn an income at the same time she spends time with her children.
Silvia's requesting a loan to invest in buying beauty and personal-care products because she has high customer demand for products.
She hopes to improve her children's quality of life.
Silvia de 37 años de edad, ha dedicado su vida a velar por el bienestar de su familia, debido a que su cónyuge falleció hace algunos años. Sus dos hijos de 15 y 9 años de edad son sus más grandes regalos. Con el fin de sostener su hogar y mejorar las condiciones económicas, Silvia se dedica a la venta de productos por catálogo, labor que le permite generar ingresos y al mismo tiempo dedicarle tiempo a sus hijos.
Debido a la alta demanda de los productos por parte de sus clientes, Silvia se encuentra solicitando un crédito que invertirá en la compra de mercancía de productos de belleza y aseo personal, con lo que espera mejorar la calidad de vida de sus hijos.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.